One of the justification that the White House gives for its onerous tariffs is that they will stop the “offshoring” of American jobs and lead to greater job growth here. That scenario has not and will not ever come to fruition.
Trump's team is citing the fentanyl crisis to justify its escalations near Venezuela. But virtually all illicit fentanyl is made and smuggled thousands of miles away. If war or regime change in Venezuela is good for the American people, why hide the true motivations?
In their 1990 paper, “A Model of Growth Through Creative Destruction,” 2025 Nobel winners Philippe Aghion and Peter Howitt attempt to formalize Joseph Schumpeter's theory of “Creative Destruction.” Their mathematical model is not creative, but it is destructive of the theory itself.
The US as a modern nation began in 1789, but between the Constitution and Alexander Hamilton’s national bank, the original ideal of liberty that drove the American Revolution had passed. We still are living in Hamilton’s country.
Leftist Boston University historian Quinn Slobodian claims that Ludwig von Mises was a Nazi sympathizer who favored Hitler’s views on race and imperialism, while broadcaster Thom Hartmann makes similar assertions. Neither man is willing to admit the truth about Mises.
"[T]hey see that their parents are pro-war, pro-militarism, and anti-sex, and they have become just the opposite ... and to become pro-drugs because their parents are hysterically opposed."
When economists try to analyze the economy, one procedure is to remove the “seasonal” component from the data in order to account for trends and fluctuations. That collides with the thinking behind praxeology in which human beings engage in purposeful behavior.
No one doubts that the US is a politically and culturally divided nation. Contrary to much of public opinion, politicians like Donald Trump did not cause the crisis. Instead, as Lawrence Mead writes, they are a symptom of the government's assault on our culture.
September’s fiscal surplus was not thanks to tariff revenue. In truth, it was thanks to Americans paying more in income tax. Tariffs were only 5.7 percent of revenue.
For more than 60 years, the US government has enforced a trade embargo against Cuba, ostensibly to force the communist government into collapse. The only thing that has collapsed, however, is the logic in the US policy.
